UNITY Biotechnology Reports Granting of New Employment Inducement Awards

Rhea-AI Summary

SOUTH SAN FRANCISCO, Calif., Aug. 18, 2021 – UNITY Biotechnology, Inc. (NASDAQ: UBX) announced that from August 3 to August 17, 2021, its Compensation Committee granted stock-based awards covering 49,000 shares of common stock to 2 new employees. These awards were made under the UNITY 2020 Employment Inducement Incentive Plan, approved by the Board in March 2020, to attract new talent in compliance with Nasdaq rules. UNITY is focused on developing therapeutics that target aging-related diseases through the elimination of senescent cells.

Positive

• Stock-based awards granted to 2 new employees, indicating ongoing recruitment efforts.
• Awards aim to attract skilled professionals, which can enhance company growth.
• Focus on therapeutics for age-related diseases may lead to innovative products.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Aug. 18, 2021 (GLOBE NEWSWIRE) -- UNITY Biotechnology, Inc. (“UNITY”) [NASDAQ: UBX], a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today announced that from August 3, 2021, through August 17, 2021, the Compensation Committee of the Board of Directors (the “Board”) granted 2 new employees stock-based awards covering an aggregate of 49,000 shares of UNITY common stock, including options to purchase an aggregate of 49,000 shares of UNITY common stock. The stock-based awards were granted pursuant to the UNITY 2020 Employment Inducement Incentive Plan, as amended, which was approved by the Board in March 2020 to provide for grants to newly hired employees as a material inducement for them to commence employment with UNITY in accordance with Nasdaq Stock Market Rule 5635(c)(4).

About UNITY
UNITY is developing a new class of therapeutics to slow, halt or reverse diseases of aging. UNITY’s current focus is on creating medicines to selectively eliminate or modulate senescent cells and thereby provide transformative benefit in age-related ophthalmologic and neurologic diseases. More information is available at www.unitybiotechnology.com or follow us on Twitter and LinkedIn.

FAQ

What stock-based awards did UNITY grant recently?

UNITY granted stock-based awards totaling 49,000 shares to 2 new employees from August 3 to August 17, 2021.

What is the purpose of the stock-based awards by UNITY?

These awards are intended as a material inducement for newly hired employees, in line with Nasdaq rules.

What is UNITY Biotechnology's focus in therapy development?

UNITY focuses on therapeutics that slow, halt, or reverse diseases of aging, targeting senescent cells.

When was the UNITY 2020 Employment Inducement Incentive Plan approved?

The plan was approved by the Board in March 2020.

What is the ticker symbol for UNITY Biotechnology?

The ticker symbol for UNITY Biotechnology is UBX.